AHCO - AdaptHealth sees FY22 revenue near midpoint of prior guidance; initiates FY23 guidance

• AdaptHealth ( NASDAQ: AHCO ) is up 1.5% after-hours after the firm has provided its initial guidance for FY 2023 and preliminary commentary on Q4 2022 results.
• For the full year 2022, the company anticipates net revenue to be near the midpoint of the previously-provided guidance range of $2.950 billion to $3.010 billion vs. consensus of $2.98B and Adjusted EBITDA to be near the low end of the previously-provided guidance range of $620 million to $650 million.
• The company expects to release fourth quarter and full year 2022 results on February 28, 2023.
• Further, the company is establishing initial guidance for fiscal year 2023, expects net revenue of $3.210 billion to $3.290 billion vs. consensus of $3.26B; Adjusted EBITDA of $690 million to $750 million; and Total capital expenditures are expected to be 9-11% of net revenue.

• Steve Griggs, Chief Executive Officer, commented, “We are pleased with our guidance for the full year ending December 31, 2023 which reflects continued improvement and stabilization of the supply of PAP devices for our sleep business and overall non-acquired net revenue growth for the company in the range of 8% to 10%.”

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